USD rising to new highs

After the US unemployment data today recorded negative results compared to what analysts expected, recording a decrease of 3000 last week, the market risk appetite was affected.

Risk appetite increased on the US dollar during today’s trading after the Federal Reserve’s interest statement yesterday, which announced the US Central Bank to raise interest rates by 75 basis points to control high inflation that the United States has not witnessed in 42 years.

The dollar index rose to its highest level since 2003 and is trading up today by 0.36% to reach 105.24.

Spot gold prices declined during today’s trading, with the dollar and US Treasury bonds rising, while gold futures settled at $1,820.60 an ounce.